KBC Group NV Increases Stock Position in Owens Corning (NYSE:OC)

KBC Group NV raised its holdings in shares of Owens Corning (NYSE:OC) by 97.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 362,416 shares of the construction company’s stock after purchasing an additional 178,710 shares during the period. KBC Group NV owned approximately 0.42% of Owens Corning worth $61,727,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of OC. Retirement Guys Formula LLC boosted its holdings in Owens Corning by 3.1% in the third quarter. Retirement Guys Formula LLC now owns 1,939 shares of the construction company’s stock worth $342,000 after purchasing an additional 58 shares during the last quarter. PFG Investments LLC lifted its holdings in shares of Owens Corning by 3.9% during the 3rd quarter. PFG Investments LLC now owns 1,828 shares of the construction company’s stock valued at $323,000 after buying an additional 68 shares during the period. Tobam boosted its stake in shares of Owens Corning by 38.0% in the 3rd quarter. Tobam now owns 265 shares of the construction company’s stock worth $47,000 after buying an additional 73 shares during the last quarter. First Bank & Trust grew its holdings in shares of Owens Corning by 2.0% in the third quarter. First Bank & Trust now owns 3,658 shares of the construction company’s stock worth $646,000 after acquiring an additional 73 shares during the period. Finally, KMG Fiduciary Partners LLC increased its position in Owens Corning by 1.5% during the third quarter. KMG Fiduciary Partners LLC now owns 5,432 shares of the construction company’s stock valued at $959,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 88.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. StockNews.com raised Owens Corning from a “hold” rating to a “buy” rating in a research report on Saturday, November 9th. Wells Fargo & Company upgraded shares of Owens Corning from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $195.00 to $225.00 in a research report on Tuesday, December 17th. The Goldman Sachs Group boosted their price objective on shares of Owens Corning from $178.00 to $198.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Loop Capital decreased their target price on Owens Corning from $215.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Citigroup cut their price target on Owens Corning from $212.00 to $207.00 and set a “buy” rating for the company in a report on Monday, January 6th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Owens Corning currently has an average rating of “Moderate Buy” and an average price target of $201.75.

Owens Corning Price Performance

Shares of NYSE:OC opened at $191.24 on Tuesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.85 and a current ratio of 1.44. The firm has a market cap of $16.40 billion, a price-to-earnings ratio of 16.28, a P/E/G ratio of 2.05 and a beta of 1.46. The firm has a fifty day moving average price of $185.29 and a 200 day moving average price of $178.24. Owens Corning has a fifty-two week low of $138.70 and a fifty-two week high of $214.53.

Owens Corning (NYSE:OC) last issued its earnings results on Wednesday, November 6th. The construction company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.05 by $0.33. The firm had revenue of $3.05 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Owens Corning had a return on equity of 25.82% and a net margin of 9.92%. The business’s revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.15 earnings per share. As a group, sell-side analysts expect that Owens Corning will post 15.47 earnings per share for the current fiscal year.

Owens Corning Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Monday, January 6th were paid a dividend of $0.69 per share. This is an increase from Owens Corning’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Monday, January 6th. This represents a $2.76 dividend on an annualized basis and a yield of 1.44%. Owens Corning’s dividend payout ratio is presently 23.49%.

Insider Buying and Selling at Owens Corning

In other Owens Corning news, insider Gunner Smith sold 17,450 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $191.19, for a total transaction of $3,336,265.50. Following the sale, the insider now directly owns 18,866 shares of the company’s stock, valued at $3,606,990.54. The trade was a 48.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.89% of the stock is owned by company insiders.

About Owens Corning

Owens Corning manufactures and sells building and construction materials in the United States, Europe, the Asia Pacific, and internationally. It operates in three segments: Roofing, Insulation, and Composites. The Roofing segment manufactures and sells laminate and strip asphalt roofing shingles, oxidized asphalt materials, and roofing components used in residential and commercial construction, and specialty applications.